Report : North America Dry Ice Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Pellets, Blocks, and Others) and Application (Food and Beverages, Storage and Transportation, Healthcare, Industrial Applications, and Others)
At 5.9% CAGR, the North America Dry Ice Market is speculated to be worth US$ 106.58 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the North America dry ice market was valued at US$ 75.73 million in 2022 and is expected to reach US$ 106.58 million by 2028, registering an annual growth rate of 5.9% from 2022 to 2028. High demand for dry ice in storage and transportation and dry ice increasing preference for dry ice over water-based ice are the critical factors attributed to the market expansion.
The transportation industry is growing rapidly and is also providing growth opportunities to the product shipping activities, this propels the North America dry ice market growth. With rising long transportation trips, grocery stores and the healthcare industry are expected to create lucrative growth opportunities for the North America dry ice market in the coming years. The growing demand for dry ice as a refrigerant in the food and transportation industries is driving the growth of the North America dry ice market. Dry ice transport is used to maintain the cold chain as well as for the transport and refrigerated shipping of food, perishable goods, and pharmaceutical products. Dry ice is crucial in food storage. Both restaurants and supermarkets use dry ice to keep food fresh in storage and for display in open containers for long periods of time. Dry ice helps to keep the food fresh for a long period and helps with the bacterial removal of mildew during food shipping. Food preparation and storage require strict regulations, and that is why dry ice has been playing a major role in commercial kitchens, restaurants, and supermarkets. Dry ice is used in freeze drying. Freeze drying by dry ice happens at extremely low temperatures during sublimation, this is less damaging than other methods of dehydration and neither affects the appearance or flavor of products. Freeze dried products can be stored for months or years at room temperature without any deterioration or spoilage.Dry ice evaporates and will not leave any water residue. This property of dry ice also helps in the storage in medical industry. Dry ice is quite resourceful when it comes to keeping things like organs, medical supplies, and test samples at even cooler temperatures. Further, doctors use dry ice to store biological samples as they can be kept fresh for long periods of time. In fact, dry ice is often a cost-effective solution for specialized freezers or in case of a power outage. Dry ice eventually evaporates, so there’s no water residue left over, which could lead to potential contamination or bacteria build up.The airline industry also uses dry ice for in-flight catering, keeping food chilled or frozen until ready to serve. On-board aircrafts do not have any mechanical refrigeration, dry ice slices are used to preserve and maintain food temperatures within acceptable profiles. As the dry ice sublimes, it leaves no residue to contaminate or compromise the quality of food.
On the contrary, the inability of dry ice to be stored for an extended period hurdles the growth of North America dry ice market.
- Based on type, the North America dry ice marketis segmented into pellets, blocks, and others. The blocks segment held 47.5% market share in 2022, amassing US$ 35.95 million. It is projected to garner US$ 52.68 million by 2028 to expand at 6.6% CAGR during 2022–2028.
- Based on application, the North America dry ice marketis segmented into food and beverages, storage and transportation, healthcare, industrial applications, and others. The storage and transportation segment held 36.4% market share in 2022, amassing US$ 27.58 million. It is projected to garner US$ 39.49 million by 2028 to expand at 6.2% CAGR during 2022–2028.
- Based on country, the North America dry ice markethas been categorized into US, Canada, and Mexico. Our regional analysis states that US captured 82.9% market share in 2022. It was assessed at US$ 62.75 million in 2022 and is likely to hit US$ 88.59 million by 2028, exhibiting a CAGR of 5.9% during the forecast period.
Key players dominating the North America dry ice market are Praxair Technology, Inc; Dry Ice Corp; Reliant DRY Ice; CRYOCARB; CONTINENTAL CARBONIC Product,Inc; and LINDE among others.
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: firstname.lastname@example.org